Your association may transfer some, but not all, of its property to any of the following:
- another body with similar or charitable objectives
- a local government council where the property is situated.
Your associations can only transfer all its property if members agree to dissolve the association.
Your association may not usually transfer prescribed property.
Prescribed property is property granted to the association by the Northern Territory or Australian governments, or purchased using grants from them.
It includes legal or equitable interests in property.
Most prescribed property can't be transferred without the consent of government, however your association can transfer the following exempt prescribed property:
- personal property (property other than real property or land) with a current market value under $25,000
- property acquired from the Northern Territory or Australian governments for full consideration and not using grants.
Your association can do either of the following with prescribed property:
- dispose of it, or charge it as security for a loan or other benefit, to the Northern Territory Government
- or lease or sublease for 12 months or less.
Other rules apply if your association's prescribed property is leased under the following laws:
How to transfer property
Decisions to transfer your association's property must be passed in line with your constitution and the law.